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Subsequent Event
12 Months Ended
Dec. 31, 2023
Subsequent Events [Abstract]  
Subsequent Event

(24.) SUBSEQUENT EVENT

The Bank discovered fraudulent activity associated with deposit transactions conducted over the course of several business days ending in early March 2024 by an in-market business customer of the Bank. The Bank continues to investigate this matter to determine the potential exposure to the Company, which the Company currently estimates could be $18.9 million, or $14.1 million net of taxes. The ultimate financial impact could be lower and will depend, in part on the Bank’s success in its efforts to recover the funds. The Bank plans to pursue all available sources of recovery and other means of mitigating the potential loss.

The Bank is working with the appropriate law enforcement authorities in connection with this matter. The Company may be limited in what information it can disclose due to the ongoing investigation.

Based on the Bank’s review of the circumstances of fraudulent activity, the Bank believes this incident is an isolated occurrence involving a single deposit-only business relationship.